Data Update 8 for 2025: Debt, Taxes and Default - An Unholy Trifecta!
Musings on Markets
FEBRUARY 23, 2025
It was only in 2019 that the accounting rule-writers (IFRS and GAAP) finally did the right thing, albeit with a myriad of rules and exceptions. The cost of debt is lower than the cost of equity : If you review my sixth data update on hurdle rates , and go through my cost of capital calculation, there is one inescapable conclusion.
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